Northwestern Energy Group Inc (NWE) Stock

Northwestern Energy Group Inc (NWE) is a Utilities stock trading at $69.43 (as of 2026-08-21), with a market capitalization of $4.27B and a trailing P/E of 24.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

NorthWestern Energy (Northwestern Corporation) supplies electricity and natural gas to residential, commercial, and industrial customers. It operates through Electric and Natural Gas segments that generate, purchase, transmit, and distribute power and that produce, purchase, store, transmit, and distribute natural gas, including municipal franchises in certain communities.

Understand Northwestern Energy Group Inc: how it makes money

NorthWestern Energy provides electricity and natural gas to residential, commercial, and industrial customers, and makes money through its Electric and Natural Gas operations that generate, purchase, transmit, and distribute these utilities.

The profit model is driven by Electric and Natural Gas revenues, with results also influenced by Montana-specific settlement and interim rate revenue contributions.

Revenue by segment (latest quarter)
Electric	$0.4B
Natural Gas	$0.1B

Business quality (Solid): The business is clearly split into Electric and Natural Gas, and the data provided includes segment revenue and an operating margin figure, but it does not include deeper operating drivers like volumes, customer counts, or reliability metrics in the same dataset.

Valuation: At 27× earnings, NWE trades 22% above the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

Defined utility footprint and service model: The company operates 6,819 miles of electric transmission lines and 18,177 miles of electric distribution lines, and it provides natural gas service through production, purchase, storage, transmission, distribution, and municipal franchises.
Clear revenue split across the two regulated utility streams: Segment revenues are presented for both Electric and Natural Gas, allowing investors to track how each utility line contributes.

Bear case

Potential earnings variability tied to Montana items: Provided data highlights Montana Settlement Revenue Contribution and Montana Interim Rate Revenue Contribution, so results may be affected by how those items play out over time.
Concentration in utility revenue streams: The segment structure centers on Electric and Natural Gas, so performance can be sensitive to factors that move either utility line.

Valuation — source: SEC EDGAR (first-party)
Price	$69.43
Market Cap	$4.27B
P/E Ratio	24.9
EV / EBITDA	13.5
Price / Book	1.48
Price / Sales	2.53
FCF Yield	-4.5%
DCF Value (model)	$74.57
DCF Upside vs Price	7.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.61B
Net Margin	11.2%
Revenue Growth (YoY)	14.6%
EPS Growth (YoY)	17.1%
FCF Growth (YoY)	62.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	0.90 (distress)

Valuation vs Sector & Industry
Stock P/E	24.9
Sector P/E (Utilities)	20.8
Industry P/E (Utilities)	20.1
vs Sector	19.6%
vs Industry	24.1%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($546.08M)
Institutional Holders Tracked	10
Congressional Trades (recent)	3

Company
Sector	Utilities
Industry	Utilities
CEO	Brian Bird
Employees	1,585
Country	US
IPO Date	2007-12-28

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.